Over 4 Million Awarded in Tax Credits!

kiz

JARI is pleased to announce that $4,816,517 in tax credits have been awarded to local companies through the Greater Johnstown Keystone Innovation Zone (GJKIZ) since the inception of the program in 2005. In 2016, $248,342 in tax credits were awarded to five companies. The Commonwealth has a total annual pool of up to $15 million available to eligible companies.

KIZs are designed to foster innovation and create entrepreneurial opportunities. To qualify for the GJKIZ program, a company must be a for-profit located within the territory of the GJKIZ, be fewer than eight years old, and have its primary business within one or more of the following industry sectors:
  • Advanced Manufacturing
  • Environmental/Renewable Energy Technology
  • Information Systems Technology
  • Life Sciences
A KIZ company must have an innovative process or have patents, licensing agreements, trademarks and/or copyrights on products or processes created in-house.  A company may receive up to $100,000 in tax credits annually if they meet the criteria.  If there is no tax liability for the company, the credits may be sold for cash.

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